Business · India Bureau
Augmont Enterprises to raise ₹825 crore through IPO launch
Augmont Enterprises Ltd, an integrated precious metals platform, is set to launch its initial public offering on August 21 with a price band of ₹750-788 per share. The IPO will comprise a fresh issue of ₹620 crore and a promoter offer for sale of ₹205 crore.
LSN India ·
The integrated gold and silver platform announced its IPO details on Tuesday, with anchor investor bidding scheduled for August 20 and the public issue closing on August 25. At the upper end of the price band, the company is expected to achieve a post-issue market capitalisation of approximately ₹7,200 crore.
The promoter offer for sale will be undertaken by Namita Ketan Kothari, Vivek Prithviraj Kothari and Dimple Mukesh Kothari, who will divest their shareholdings as part of the public issue.
Augmont plans to deploy IPO proceeds primarily towards working capital requirements, including procurement and expansion of inventory, inventory maintenance costs, and advance margin requirements for purchasing precious metals inventory. The company will also utilise funds for general corporate purposes, as per its public announcement.
The IPO comes as the precious metals and jewellery sector continues to attract investor interest in India, with gold demand remaining robust driven by jewellery consumption and investment demand.